A Study On Agricultural Insurance Catastrophe Risk Diversification Mechanism Of China

Population in our country is large, the agriculture as the foundation of the industry in China, the central government always attaches great importance to the problem of agriculture, rural areas and farmers, 11 years in a row in a number of files are concerned about the problem of agriculture, rural areas and farmers, this year, the center of gravity of the problem of agriculture, rural areas and farmers work is on the basis of the reform and innovation to speed up the construction of agricultural modernization. Plenty of natural disasters have taken place in our country in recent years, because of the risk ability of the agriculture itself is weaker,it has brought serious damage to agriculture. In 2004,the government carried out the policy of agricultural insurance in our country, since the policy-oriented agricultural insurance carried out in scattered agricultural risk and the general agricultural risk loss compensation plays a big role, however, in the face of the increasingly frequent agricultural catastrophe risk, our country also lacks the system of policy-oriented agricultural insurance catastrophe risk disperse mechanism, mainly relies on the government’s fiscal appropriations after disasters. Therefore, on the basis of carrying out policy-oriented agricultural insurance, insurance of our country to build the multi-level agricultural catastrophe risk disperse mechanism, ensure the sustainable, stable and healthy development of agricultural production.In this paper, from the agricultural catastrophe risk and risk securitization, the related theory of analysis of the current our country the provincial practice of policy-oriented agricultural insurance catastrophe risk dispersion, then discuss the developed countries on agricultural insurance catastrophe risk disperse mechanism of successful practices, draw lessons from the experience, on the basis of combining the situation of our country, put forward how to construct our country agricultural insurance catastrophe risk disperse mechanism, including the development of agricultural insurance reinsurance, establishing agricultural catastrophe risk fund and development risk securitization, etc.In this paper, we draw the main conclusions as follows: the characteristics of the agricultural catastrophe risk and special properties of agricultural insurance determine the scattered agricultural insurance catastrophe risk needs the participation of the governmentand the market. Government as the top designer, policy makers should do well and formulate corresponding policies, the market should play its advantage on the diversification of risk. Therefore, China should establish the multi-level agricultural insurance catastrophe risk disperse mechanism, multi-channel way more scattered agricultural insurance catastrophe risk, to develop the securitization of catastrophe risk, the insurance market and capital market docking, disperse catastrophe risk in a larger scope.